Monday, March 17, 2025

Creating liberating content

The irreverent, unrepentantly political Northern Irish rap trio Kneecap welcomed

Related News

‘Thank you my friend’: PM Modi joins Truth Social after Trump’s Fridman podcast post (Picture credit: AP) NEW DELHI: Prime Minister Narendra Modi made his debut on Truth Social on

The irreverent, unrepentantly political Northern Irish rap trio Kneecap welcomed a special guest onto the stage of its show in Melbourne, Australia, over St. Patrick’s Day weekend: the head of

Frank Rubio, who just like Sunita and Butch went for a 6-month space mission and had to stay for 371 days, said it takes two to three months to get

Dem donors fret that Kamala Harris is missing in action even months after the election loss. California governor Gavin Newsom has started a new podcast hosting prominent supporters of President

New details on last interaction U.S. college student had before disappearing in Punta Cana – CBS News Watch CBS News Joshua Riibe was the last person seen with University of

NEW DELHI: New Zealand Prime Minister Christopher Luxon made a remark related to rivalry in cricket between the two nations during a joint press conference with Prime Minister Narendra Modi

Trending News

Foreign portfolio investors (FPIs) are on track for the worst-ever annual equity selloff in FY25 in rupee terms, driven by sustained outflows since October 2024. In the first two weeks

Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting March 17, 2025) are HPCL and

MUMBAI: IndusInd Bank may have overstated its net interest income in preceding quarters, research reports by brokerage houses said. As a result, the lender will take a significant hit in

NEW DELHI: India has achieved self-sufficiency in solar module manufacturing. But the feat has rendered domestic producers of polysilicon, wafers and ingots – the building blocks for modules – vulnerable

New Delhi: India and New Zealand decided to relaunch negotiations for a free trade agreement on Saturday after a gap of 10 years, a move aimed at deepening economic ties

Mumbai: A host of global and domestic factors are expected to weigh on investors’ sentiment when Dalal Street opens for trading on Monday. The escalating global tariff war between the

Treasury Secretary Bessent says Trump is heading off financial crisis

Word Count: 345 | Estimated Reading Time: 2 minutes


Treasury Secretary Scott Bessent speaking to CNBC on March 13th, 2025. 

CNBC

Treasury Secretary Scott Bessent said Sunday the Trump administration is focused on preventing a financial crisis that could be the result of massive government spending over the past few years.

“What I could guarantee is we would have had a financial crisis. I’ve studied it, I’ve taught it, and if we had kept up at these spending levels that — everything was unsustainable,” Bessent said on NBC’s “Meet the Press.” “We are resetting, and we are putting things on a sustainable path.”

President Donald Trump has made getting the government’s fiscal house in order a priority since taking office. He created the so-called Department of Government Efficiency, led by Elon Musk, to spearhead job cuts and early retirement incentives across multiple federal agencies.

Still, the U.S. debt and deficit problem worsened during Trump’s first month in office, as the budget shortfall for February passed the $1 trillion mark.

Bessent noted that there are “no guarantees” there won’t be a recession.

The market has been on a tumultuous ride as of late as Trump’s widespread tariffs raised concerns about inflation and economic slowdown. The S&P 500 on Thursday fell into a 10% correction from its February high as volatility spiked.

Bessent believes pullbacks like the one the market is in right now are benign, and Trump’s pro-business policies will boost the market and the economy over the long run.

“I’ve been in the investment business for 35 years, and I can tell you that corrections are healthy. They’re normal,” he said. “What’s not healthy is straight up, that you get these euphoric markets. That’s how you get a financial crisis. It would have been much healthier if someone had put the brakes on in ’06, ’07. We wouldn’t have had the problems in ’08.”

“I’m not worried about the markets. Over the long term, if we put good tax policy in place, deregulation and energy security, the markets will do great,” Bessent added. “I say that one week does not the market make.”



Source link

Sign In

Welcome ! Log into Your Account